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LIQUIGLIDE RAISES $13.5 MILLION IN FRESH FUNDING

May 3, 2021
May 3, 2021
LiquiGlide

LiquiGlide, inventors of a breakthrough technology that’s revolutionizing products, packaging, processes, and patient experiences by eliminating the friction between solids and liquids, announced its latest $13.5 million funding round and new partnerships with Colgate and the Mibelle Group.

WHO: LiquiGlide was invented at MIT by co-founders Dave Smith and Professor Kripa Varanasi. The company’s first-of-its-kind patented technology removes friction, allowing thick, slow-moving liquids to flow with ease. By eliminating friction, LiquiGlide has made previously impossible advancements in packaging, manufacturing, and medical devices a reality via safe and sustainable solutions that meet rigorous safety and regulatory standards.

WHY: LiquiGlide’s benefits extend beyond consumer products. The company is also focused on critically important applications of its technology in the biomedical domain, including the prevention of clogging, reduction of device-related infection, and the enhanced production and delivery of viscous drugs and biologics.

IN THEIR OWN WORDS: “Our technology has redefined what’s possible when working with thick, slow-moving liquids,” said Dave Smith, co-founder and CEO at LiquiGlide. “We’re already seeing its impact with extraordinary breakthroughs in packaging, manufacturing, and the biomedical industry. As we continue to expand our market presence with our latest partnerships with Colgate and the Mibelle Group, we’re proud to join forces with global leaders in innovation and consumer goods.”

In addition, the company has announced that it is partnering with leading industrial designer Yves Béhar and his design firm, fuseproject, to create elegant, no-waste, sustainable packaging for a line of health and beauty products under LiquiGlide’s EveryDrop label. According to Béhar, “There is an opportunity here for design to leverage new technologies that can completely transform the way we think about the cyclical system of ‘zero waste’—from product design to disposal—to drive responsible consumption.”

“We are surrounded by liquid products from food or cosmetics in everyday life to valuable drugs or biologics in industry. Until now, we’ve accepted significant waste, whether in manufacturing or in packaging, as part of the price for these products because they stick to containers or devices they touch,” said Professor Kripa Varanasi, co-founder and Chairman of LiquiGlide. “By eliminating friction, LiquiGlide’s technology removes this basic constraint. Now, we can dispense every last drop, minimize yield loss in manufacturing, and reduce occlusions and infections in medical devices. Our team is on a mission to change the paradigm across industries to usher in sustainable products and processes as well as improve patient outcomes.”

DETAILS:

  • LiquiGlide closed $13.5 million in new funding, bringing the total amount raised to $50 million.
  • For consumers in Europe, Colgate has just introduced a transformational, clear, PET, recyclable toothpaste package, developed in partnership with LiquiGlide, that allows toothpaste to dispense much more easily.
  • As part of LiquiGlide’s partnership with the Mibelle Group, a leading Swiss consumer, cosmetics, and pharmaceutical products manufacturer, its technology is working to eliminate manufacturing waste. Using LiquiGlide’s CleanTanX technology, the Mibelle Group has reduced the yield loss in its toothpaste manufacturing tanks up to 99%, and seen significant savings in wash water, energy, and labor. Today, the partnership is expanding to other product lines.
  • The company nearly doubled its team in 2020 as it prepares to expand its technology into more applications. As part of its growth, LiquiGlide added veteran executives from the packaging and biotech sectors. Damien Dossin will serve as Executive Vice President and General Manager of its Consumer Packaged Goods Division and Dan Rippy joined as Executive Vice President and General Manager of LiquiGlide’s Biomedical Division. The company also appointed Tom Britanik, former CMO of The Clorox Company with decades of experience in the consumer packaged goods industry, to the role of CMO at LiquiGlide.
  • In January 2017 LiquiGlide closed $16 million in new financing from Structure Capital, Valia Investments, Struck Capital, and Pilot Grove.
  • In March 2015 LiquiGlide received $7 million from Roadmap Capital.
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